How can I calculate how much this huge mistake cost me and my FIRE goals?

I agree with everyone else that says don’t worry about it. Paying off debt vs investing is a very personal decision based on how much you care about not having debt.

I did essentially the exact same as you. Once I paid off student loans I focused mostly on putting some money into my TFSA and making out my RRSP while hammering away at my mortgage. I wanted to pay off my house as quickly as possible including taking advantage of every possible option at my bank: increasing my weekly payments by 10% every year, full double up payments every single week, and the no-fee 10% principle payments every 12 months. When I had extra cash I paid off big chunks at a time against principle (and paid 3 months interest as the only fee to do so) instead of investing it.

I did this the whole time knowing that for a sub 3% mortgage rate it was the “wrong thing” to do according to probably almost everyone you could get advice from. But it was the right choice for me. I hated having debt, even a low rate mortgage...

Would I have been better paying off mortgage more slowly while investing in the stock market instead? Probably but if I had to do it again I would still make the same choice...

Sounds like you made a similar choice for yourself. I say don’t worry about your decision. Focus on the future now :)

/r/financialindependence Thread